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The 12 Best E-commerce Pricing Strategies to Boost Sales in 2023

  • 5 minutes
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Finding the right e-commerce pricing strategy is a combination of art and science. On the one hand, you must understand the nuances of products, markets, and customers. On the other, you must crunch the numbers. 

In this article, we are going to focus on the 12 best e-commerce pricing strategies your business can use to boost sales. In particular, we will focus on the best methods to determine your price so that you can produce revenue while giving your customers a fair deal.

What is an E-commerce Pricing Strategy?

E-commerce pricing strategies focus on determining how much customers pay for a product or service. In its simplest form, an e-commerce pricing strategy stems from adding a profit margin to a product’s cost. For instance, product A costs $10. The company chooses to add a 10% profit margin, that is, $1. The product’s total price is $11. 

However, e-commerce pricing strategies are seldom that simple. Various elements factor into calculating a product’s retail price. Here are some elements to consider:

  • Product supply and demand
  • Costs (shipping, warehousing, import duties)
  • Business overheads
  • Taxes
  • Market price

These factors determine your products’ final prices. However, please bear in mind that your e-commerce pricing strategy largely depends on what the market will bear. As such, you may be able to charge far more than you anticipated. 

Why is an E-commerce Pricing Strategy Important?

An e-commerce pricing strategy lets you objectively determine your products’ pricing. You can establish how much your products cost while ensuring your business produces enough revenue.

So, let’s consider three important reasons why having an e-commerce pricing strategy is crucial to your business’s overall success:

#1 Price comparisons

According to research, 74% of shoppers conduct web searches to compare product prices across various merchants.

What does this mean?

It means that you cannot haphazardly assign prices. If you set your price too high, you’ll lose customers. If you set your price too low, you might make customers suspicious. As a result, you must ensure that your pricing strategy establishes reasonable and credible pricing that’s in line with the market average.

#2 Cost considerations

A common mistake is disregarding cost considerations when formulating an e-commerce pricing strategy.

How so?

The first step toward figuring out the right price for your product is getting a grip on cost considerations. For example, your product costs you $10. However, your competitors sell below $10. 

You choose to match your competitors’ pricing to keep up. In doing so, you’re actually losing money on the product. Therefore, cost considerations play a key role in establishing your e-commerce pricing strategies. 

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#3 A product’s perceived value

At the end of the day, a product’s perceived value influences an e-commerce pricing strategy. In short, a product is only worth what customers are willing to pay. 

If customers’ price points fall below your cost considerations, you might be better off switching products. In contrast, you might be pleasantly surprised to find customers willing to pay far more than your overall cost.

How Can You Create an E-commerce Pricing Strategy?

When creating e-commerce pricing strategies, and in particular, Shopify pricing strategies, there are several key elements you must take into consideration. Failing to do so may render your e-commerce pricing strategies lopsided. In other words, they won’t fully address your customers’ needs and desires based on your products’ perceived value.

Let’s take a look at five key elements to consider when creating your business’s e-commerce pricing strategies:

#1 Define your customer personas

ecommerce pricing strategies

Factors such as age, income, and socioeconomic status determine how much you can charge for a product. For instance, a mobile phone priced in the thousands may become prohibitive for a younger customer demographic. In contrast, affordable clothing brands may not resonate quite well with older, wealthier customers.

#2 Define your unique value proposition

premium ecommerce pricing strategy

Your e-commerce pricing strategies must communicate your brand’s unique value proposition. Pricing your products comparatively low to competitors may undercut value. In contrast, pricing them too high may build unrealistic expectations. 

For example, luxury items provide a status that no other product can deliver. The same goes for highly functional products. A product that solves a significant problem can become quite expensive.

#3 Competition

what is an ecommerce pricing strategy

Highly competitive products are often the hardest to price. These products generally have razor-thin margins or may even become loss leaders. Think of fast-food restaurants. There are thousands of them. As a result, burger places generally have the same ballpark pricing strategies.

#4 Supply and demand

price skimming strategy ecommerce

Undoubtedly, supply and demand play a huge role in determining overall e-commerce pricing strategies. In short, customers are willing to pay more when a product is scarce. Typically, supply and demand play a key role in determining overall price action.

#5 Marketing

top ecommerce pricing strategies

Some products are purely the result of great marketing. Building hype around a product can artificially drive the price up. Thus, hype can become a powerful tool in creating e-commerce pricing strategies. 

Don’t underestimate the power of marketing. Clever marketing can do wonders for your e-commerce pricing strategies. Nevertheless, please remember that hype must be justified. Otherwise, a brand’s reputation may suffer when customers realize the products don’t live up to their hype.

The 12 Best E-commerce Pricing Strategies for 2023

Now that we have covered all the bases regarding e-commerce pricing strategies, let’s discuss the twelve best pricing strategies you can implement today.

#1 Cost-plus pricing

We have listed cost-plus pricing first as it is generally the most straightforward e-commerce pricing strategy. In short, cost-plus pricing takes a product’s cost (purchase price, shipping, handling, warehousing) and adds to a profit margin. Profit margins can vary according to various factors such as management’s expectations, competition, and the company’s financials. 

bundle pricing strategy ecommerce

For instance, a product’s total cost is $1. After researching the market, management feels that a 20% profit margin makes sense. The product’s retail price is now $1.20.

Let’s take a look at the pros and cons of the e-commerce pricing strategy:

Pros:

  • Easy method to calculate
  • Highly useful when there is a vast product catalog
  • Places cost control as the main focus

Cons:

  • Cost increases typically mean raising prices
  • Calculation errors may prove costly
  • Requires very close cost control monitoring

On the whole, this e-commerce pricing strategy is very good for small businesses. Cost-plus pricing is a great way for newcomers to get a grip on managing their business’s e-commerce pricing strategies.

#2 Competitor pricing

Competitor pricing essentially uses average market prices to set your product’s prices. The easiest way is to copy your competitor’s prices merely. However, this approach may not work if your costs are too high compared to your competitors. For instance, a small grocery store may have higher overhead costs compared to a large national supermarket chain. 

why is an ecommerce pricing strategy important

Nevertheless, competitor pricing is an easy way to set up an e-commerce pricing strategy, particularly when introducing new brands or products into your specific market niche.

Let’s take a look at the pros and cons of the e-commerce pricing strategy:

Pros:

  • Easy method to implement
  • Allows your brand to cut prices in order to beat competitors
  • Great for new businesses entering the market

Cons:

  • Requires extensive market research
  • Prices must be adjusted for market fluctuations
  • Careful cost control is needed to avoid sudden losses

This e-commerce pricing strategy works well overall. Please remember you must stay on top of market fluctuations and your competition’s moves. Therefore, constant market research is necessary to prevent becoming undercut by the competition.

#3 Value-based pricing

In essence, value-based pricing hinges on how much the market will bear. In other words, your e-commerce pricing strategies are based on how much customers are prepared to pay for your products. 

best ecommerce pricing strategies

Brands that use this e-commerce pricing strategy must offer the best possible products at the highest possible quality for the products’ market segment and price point.

Let’s take a look at the pros and cons of the e-commerce pricing strategy:

Pros:

  • Brands can maximize their profit margins
  • Brands can boost their revenue, especially with high-end items
  • Differentiation from competitors works very well with this strategy

Cons:

  • Susceptible to competitors offering cheaper products
  • Value-based pricing depends on customers’ value perception
  • Brands cannot compromise on quality and service

This e-commerce pricing strategy is ideal for high-end or luxury items. Also, it works well for your brand’s best products. However, you must be aware of your customers’ value perception. If it falls, your products’ sales may suffer as a result.

#4 Price skimming

Generally speaking, price skimming consists of charging the highest possible price when a product is new and then decreasing it over time. This e-commerce pricing strategy works for brand-new products that capitalize on novelty or hype. 

best pricing strategies ecommerce
Source: allbirds.com

For example, mobile phones were extremely expensive when they first arrived on the market. Over time, their prices have come down considerably.

Let’s take a look at the pros and cons of the e-commerce pricing strategy:

Pros:

  • High-demand items can capitalize on the buzz
  • Brand-new technologies can cash in on novelty and usefulness
  • Seasonal items take advantage of consumers’ needs during in-season sales

Cons:

  • This strategy works with a constant stream of new products
  • Everyday products with short shelf lives do not benefit from this strategy
  • Customers may delay their purchase decision until the price comes down

Overall, price skimming works very well with seasonal items. For instance, retailers sell winter clothes at full price during the winter. Then, they slash prices during the summer. As a result, some consumers may delay their purchase decision until the off-season. 

#5 Loss-leaders

Loss leaders have become increasingly popular over the last few years. In short, loss leaders are “cheap” items that retailers use to entice customers to visit their shops. Once there, the brand can entice customers to purchase other items at regular prices. 

The classic example is Costco’s rotisserie chicken. This product is a loss leader as it does not generate the brand any profit. However, this product is the bait that lures customers into the store. 

Let’s take a look at the pros and cons of the e-commerce pricing strategy:

Pros:

  • This strategy is great for attracting new customers
  • Boost the number of transactions
  • Helps clear inventory

Cons:

  • The loss-leader items themselves don’t generate any profit
  • There are no guarantee customers will make additional purchases
  • Customers must get the best possible shopping experience

Using loss leaders is a great way to get the ball rolling. So please ensure your loss leaders are items people want or need to purchase.

#6 Dynamic Pricing

As the name suggests, dynamic pricing constantly changes pricing patterns according to several factors such as customer demand, time of day, season, or supply. When thinking about dynamic pricing, think about airlines. 

value based pricing strategy ecommerce
Source: kayak.com

Flight costs depend on the destination, time, number of visitors, or available number of seats. Airlines’ algorithms hike flight prices by detecting a high number of visitors searching for a specific flight. 

Let’s take a look at the pros and cons of the e-commerce pricing strategy:

Pros:

  • Boosts revenue by capitalizing on spikes in demand
  • Works very well with high-demand items
  • Helps keep prices competitive relative to other retailers

Cons:

  • Sales may grind to a halt when demand falls
  • Fluctuations may cause customers to wait for the “perfect” time
  • Potential confusion regarding your products’ real prices

Dynamic pricing is a great strategy for high-demand items. Nevertheless, be careful with significant fluctuations. You may raise your customers’ suspicions.

#7 Premium pricing

Premium pricing is a straightforward e-commerce pricing strategy. Your brand often charges the highest possible price without considering how much the market will bear. This e-commerce pricing strategy is a staple of the luxury world.

top pricing strategies for ecommerce
Source: rolex.com

Customers know they are getting a high-quality item with a significant “status” attached. This approach works well for jewelry, designer clothing, shoes, high-end sports cars, or other top products.

Let’s take a look at the pros and cons of the e-commerce pricing strategy:

Pros:

  • Targets more affluent consumers
  • Allows for very high-profit margins
  • Fosters significant brand loyalty

Cons:

  • Requires highly targeted marketing
  • Sales volume may be comparatively lower
  • Products must be the best in their class to justify the price tag

If you’re targeting the most affluent shoppers in your respective market, premium pricing will help you get their attention. Please remember, though, that your products must deliver on expectations.

#8 Anchoring prices

Anchoring prices or anchor prices give customers a reference or comparison price. This reference point serves to show customers the deal they are getting. A common practice is to show “was $10, now $5.” 

how to create an ecommerce pricing strategy
Source: try.pickystory.com

This e-commerce pricing strategy utilizes a psychological device that allows customers to visualize how good a deal they’re getting. This approach works very well when running discounts and special offers.

Let’s take a look at the pros and cons of the e-commerce pricing strategy:

Pros:

  • Helps customers visualize a deal without needing to calculate it
  • Showcases how much customers save in % or $ terms
  • Customers may fear missing out on a good deal

Cons:

  • Extreme difference between anchor and retail price may confuse buyers
  • Overusing anchors may cause customers to think the deal is a gimmick
  • High anchors may lead customers to believe you’re inflating the deal

Anchoring prices works very well for sales and special offers. This e-commerce pricing strategy works very well if you set prices that don’t change frequently.

#9 Introductory pricing

Brands often use introductory pricing for new products. This e-commerce pricing strategy offers new products at a special low introductory price. This strategy is also used by tech companies and subscription services offering free trials to new customers.

competitor pricing strategy ecommerce
Source: hulu.com

The aim is to entice customers to purchase now before the product’s price goes up to the full retail price. In general, the price never goes up unless the product is extremely successful.

Let’s take a look at the pros and cons of the e-commerce pricing strategy:

Pros:

  • Entices customers to try new products
  • Plays on the fear of missing out
  • Helps boost a new product’s sales from the start

Cons:

  • Customers may not feel a sense of urgency
  • Sales may decline after raising the product’s prices
  • Initial profit margin may be lower than expected

Introductory pricing works when products become popular. The best approach is to increase prices as far as the market will bear gradually.

#10 Bundle pricing

Bundle pricing is a highly effective e-commerce pricing strategy. In short, bundle pricing means purchasing more than one item reduces a product’s price per unit. 

shopify pricing strategy
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For instance, one t-shirt costs $10. If a customer purchases three, they pay $15. This approach works very well with virtually any type of product.

Let’s take a look at the pros and cons of the e-commerce pricing strategy:

Pros:

  • Boosts overall sales and revenue
  • Helps clear inventory
  • Fosters upselling customers

Cons:

  • May decrease profit margins over time
  • Customers may never pay full retail prices for individual items
  • Bundling unrelated products may confuse customers

Bundle pricing works very well for virtually any kind of product. However, you must ensure that bundles don’t erode your profit margins.

#11 Discount pricing

Discount pricing is a highly effective tool when looking to spur slowing sales. Brands use this e-commerce pricing strategy when looking to clear excess stock or jumpstart sales. 

dynamic pricing strategy ecommerce

Discounts work very well in percentage or dollar terms. However, it’s essential to avoid overdoing discounts. Customers must feel they’re getting a great deal. Thus, discounts should be used sparingly.

Let’s take a look at the pros and cons of the e-commerce pricing strategy:

Pros:

  • Discounts can jumpstart sales
  • Customers feel they’re getting a great deal
  • Can increase sales and revenue despite lower profit margins

Cons:

  • Overdoing discounts may cause customers to avoid paying full price
  • Discounting top-selling items may decrease sales
  • Profits may decrease over time

Discounts in special events such as flash sales can be a highly effective way to boost your brand’s sales and generate buzz. However, discounts may be used strategically. Overdoing them may eventually cause customers to lose interest.

#12 Psychological pricing

Psychological pricing is an e-commerce pricing strategy that uses psychological devices to help entice customers to purchase. A classic example is to end prices in nines. After all, paying $10 is not the same as $9.95.

ecommerce product pricing strategy
Source: glacierpeakholistics.com

Also, retailers generally avoid using unusual prices such as $17.31 or $6.70. Giving customers easy, round numbers helps them visualize pricing, particularly when offering discounts.

Psychological pricing works very well when buying in bulk. For instance, buying one pound of apples costs $1. However, buying five pounds of apples costs $3. It is clear that buying a larger amount makes you a better deal.

Let’s take a look at the pros and cons of the e-commerce pricing strategy:

Pros:

  • Takes the guesswork out of purchase decisions
  • Speeds up purchase decisions
  • Boosts the sense of getting a good deal

Cons:

  • Customers may not be willing to pay more for a larger amount
  • Customers are wary of buying more of a product they may not use
  • Bulk pricing does not work for products that have limited consumption

Using psychological pricing in bulk pricing strategies can be a great way to entice your customers to buy more. This approach is great when you have items that customers get more utility the more they consume them.

Power your E-commerce Pricing Strategy with PickyStory

Regardless of how you choose to price your products, PickyStory can help you generate a higher average order value (AOV) and overall revenue from your online store. 

With PickyStory, e-commerce merchants can create product bundles and deals, with different pricing and discount rules. Deals can be displayed throughout your store, at key moments in your buyer’s journey. 

PickyStory allows you to utilize the best e-commerce pricing strategies for your online e-commerce site. From there, you can use PickyStory to combine great products and Shopify pricing strategies to make the most of your overall sales strategies.

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Frequently Bought Together

Present bundles of products that are frequently purchased together, simplifying the decision-making process for your customers

What is Frequently Bought Together?

It is a recommendation scenario that suggests additional products to the shopper, which are often purchased by other customers in conjunction with the item they are currently viewing or considering purchasing.

Why are brands using it?

  • Boosted sales and revenue - increases average order value by suggesting complementary products, leading to higher sales
  • Simplified customer experience - saves time and effort for customers by offering relevant product recommendations, enhancing satisfaction and loyalty
  • Cross-selling opportunities: "Frequently Bought Together" creates opportunities for cross-selling, allowing brands to introduce shoppers to a wider range of products

How Zenbivy uses Frequently Bought Together

Zenbivy simplifies the shopping experience by displaying all the needed pieces of its sleeping systems on one page, under each product that is part of a sleeping system. This way, shoppers don't need to go through multiple pages and guess what goes with what. Zenbivy enjoys much larger orders, and shoppers can have a seamless experience.

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Build Your Own Bundle

Offer shoppers the ability to create their own bundle of products by selecting from a range of available options

What is Build Your Own Bundle?

Build Your Own Bundle scenario provides shoppers with the flexibility to select specific items or features that best meet their individual needs and preferences. The selection is based on a pre-curated set of products by the merchant.

Why are brands using it?

  • Increase AOV - encourage higher spending with customizable bundles, raising average order values and revenue
  • Personalize purchases - tailor products to customer preferences, potentially increasing Average Order Value (AOV) and overall revenue
  • Stand out competitively - offer a unique option, attracting customers looking for customized solutions

How Prodigy uses Build Your Own Bundle

Prodigy enables its shoppers to build their own bundle of golf discs, fully personalizing the shopping experience. Shoppers get an easy way to select their favorite discs while Prodigy consistently increases its AOV.

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Bundle as Product

Combine multiple individual products into a bundle and sell them as a single unit

What is Bundle as Product?

Bundle as Product scenario involves bundling multiple individual products together and selling them as a single unit. This strategy offers shoppers a curated selection of items that work together or complement each other.

Why are brands using it?

  • Increase sales and revenue. Bundling leads to higher sales volumes and greater revenue due to the perceived cost-effectiveness.
  • Highlight the value and convenience of purchasing a set of items together, enticing them with an irresistible offer
  • Enhance value perception. Bundles create the perception of added value, making them more appealing to customers.

How Gravity Fitness uses Bundle as Product

Gravity Fitness knows that it's not an easy task for shoppers to collect all the required pieces for a complete home gym. That's why they have created pre-made home gym bundles for an easy shopping experience. Now they have fewer SKU issues, a higher AOV, and happier customers.

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Complete the Bundle

Encourage shoppers to add the missing items to complete the bundle when they add items to cart

What is Complete the Bundle?

Complete the Bundle popup is a deal that appears when a shopper has added some items to their shopping cart but has not yet added all the recommended or related products that typically go together.

Why are brands using it?

  • Increase Average Order Value (AOV) - encourage shoppers to add complementary products, leading to higher total purchases
  • Highlight the value and convenience of purchasing a set of items together, enticing them with an irresistible offer
  • Enhance value perception. Bundles create the perception of added value, making them more appealing to customers.

How Petliking.com uses Complete the Bundle

Petliking.com never misses an opportunity to offer more products to its shoppers after they add an item to cart. By offering to complete the bundle, Petliking.com helps shoppers to discover additional related items that complement each other while increasing its order size.

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Bundle as Product

Combine multiple individual products into a bundle and sell them as a single unit

What is Bundle as Product?

Bundle as Product scenario involves bundling multiple individual products together and selling them as a single unit. This strategy offers shoppers a curated selection of items that work together or complement each other.

Why are brands using it?

  • Increase sales and revenue. Bundling leads to higher sales volumes and greater revenue due to the perceived cost-effectiveness.
  • Highlight the value and convenience of purchasing a set of items together, enticing them with an irresistible offer
  • Enhance value perception. Bundles create the perception of added value, making them more appealing to customers.

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Complete the Bundle

Encourage shoppers to add the missing items to complete the bundle when they add items to cart

What is Complete the Bundle?

Complete the Bundle popup is a deal that appears when a shopper has added some items to their shopping cart but has not yet added all the recommended or related products that typically go together.

Why are brands using it?

  • Increase Average Order Value (AOV) - encourage shoppers to add complementary products, leading to higher total purchases
  • Highlight the value and convenience of purchasing a set of items together, enticing them with an irresistible offer
  • Enhance value perception. Bundles create the perception of added value, making them more appealing to customers.

How A&D Performance uses Complete the Bundle

A&D Performance always seizes intent-based opportunities to offer additional supplements when shoppers add items to their cart. By displaying a 'Complete the Bundle' popup, A&D Performance increases their Average Order Value (AOV) while helping their customers discover more products.

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Bundle as Product

Combine multiple individual products into a bundle and sell them as a single unit

What is Bundle as Product?

Bundle as Product scenario involves bundling multiple individual products together and selling them as a single unit. This strategy offers shoppers a curated selection of items that work together or complement each other.

Why are brands using it?

  • Increase sales and revenue. Bundling leads to higher sales volumes and greater revenue due to the perceived cost-effectiveness.
  • Highlight the value and convenience of purchasing a set of items together, enticing them with an irresistible offer
  • Enhance value perception. Bundles create the perception of added value, making them more appealing to customers.

How Koala Babycare uses Bundle as Product

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Spend X Get Y

Encourage shoppers to spend a certain amount of money (X) in order to receive a specific benefit or reward (Y)

What is Spend X Get Y?

"Spend X, Get Y" promotions are designed to motivate shoppers to spend more money with the promise of receiving something valuable in return. It's a win-win situation where customers get a benefit, and the store increases its sales.

Why are brands using it?

  • Promotes larger purchases - motivates shoppers to spend more to qualify for the promotion, potentially leading to bigger transactions
  • Increases Average Order Value (AOV) - encourages higher spending, leading to a higher average transaction value
  • Enhances customer loyalty - provides added value, improving customer satisfaction and fostering loyalty

How Jose Pizarro uses Spend X Get Y

Jose Pizarro takes advantage of PickyCart and 'Spend X Get Y' to reward shoppers with free shipping when they spend £75 in-store. This is a win-win offer for both sides - while Jose Pizarro increases the AOV, shoppers receive a sweet reward.

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Complete the Bundle

Encourage shoppers to add the missing items to complete the bundle when they add items to cart

What is Complete the Bundle?

Complete the Bundle popup is a deal that appears when a shopper has added some items to their shopping cart but has not yet added all the recommended or related products that typically go together.

Why are brands using it?

  • Increase Average Order Value (AOV) - encourage shoppers to add complementary products, leading to higher total purchases
  • Highlight the value and convenience of purchasing a set of items together, enticing them with an irresistible offer
  • Enhance value perception. Bundles create the perception of added value, making them more appealing to customers.

How Agrestis uses Complete the Bundle

Agrestis makes sure to consistently display a variety of spirits to their shoppers at the right moment. As shoppers add spirits to the cart, Agrestis extends an offer to include more related spirits, resulting in an improved shopping experience and a higher Average Order Value (AOV).

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Build Your Own Bundle

Offer shoppers the ability to create their own bundle of products by selecting from a range of available options

What is Build Your Own Bundle?

Build Your Own Bundle scenario provides shoppers with the flexibility to select specific items or features that best meet their individual needs and preferences. The selection is based on a pre-curated set of products by the merchant.

Why are brands using it?

  • Increase AOV - encourage higher spending with customizable bundles, raising average order values and revenue
  • Personalize purchases - tailor products to customer preferences, potentially increasing Average Order Value (AOV) and overall revenue
  • Stand out competitively - offer a unique option, attracting customers looking for customized solutions

How Wisdom Foods uses Build Your Own Bundle

Wisdom Foods wanted to upgrade its shopping experience by making it easy for shoppers to pick their desired syrups. Now it allows shoppers to build their own bundles of syrups from a single page and checking out. This increases Wisdom Foods' order sizes while providing a personalized experience to their shoppers.

www.wisdomfoods.com.au

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Bundle as Product

Combine multiple individual products into a bundle and sell them as a single unit

What is Bundle as Product?

Bundle as Product scenario involves bundling multiple individual products together and selling them as a single unit. This strategy offers shoppers a curated selection of items that work together or complement each other.

Why are brands using it?

  • Increase sales and revenue. Bundling leads to higher sales volumes and greater revenue due to the perceived cost-effectiveness.
  • Highlight the value and convenience of purchasing a set of items together, enticing them with an irresistible offer
  • Enhance value perception. Bundles create the perception of added value, making them more appealing to customers.

How Dineamic uses Bundle as Product

Dineamic takes advantage of bundles to package their pre-made meals by dietary requirements, so every shopper can quickly and easily find the desired category of meals and add them all with a single click. This simplifies the shopping experience and benefits both sides, as Dineamic boosts its Average Order Value (AOV).

www.dineamic.com.au

Create Bundle as product

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Bundle as Product

Combine multiple individual products into a bundle and sell them as a single unit

What is Bundle as Product?

Bundle as Product scenario involves bundling multiple individual products together and selling them as a single unit. This strategy offers shoppers a curated selection of items that work together or complement each other.

Why are brands using it?

  • Increase sales and revenue. Bundling leads to higher sales volumes and greater revenue due to the perceived cost-effectiveness.
  • Highlight the value and convenience of purchasing a set of items together, enticing them with an irresistible offer
  • Enhance value perception. Bundles create the perception of added value, making them more appealing to customers.

How Line Furniture uses Bundle as Product

Line furniture simplifies its shoppers lives by offering complete furniture sets in different styles. Now shoppers can easily find their favorite living room and save while Line Furniture increases its AOV and number of orders.

www.linefurniture.se

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Complete the Bundle

Encourage shoppers to add the missing items to complete the bundle when they add items to cart

What is Complete the Bundle?

Complete the Bundle popup is a deal that appears when a shopper has added some items to their shopping cart but has not yet added all the recommended or related products that typically go together.

Why are brands using it?

  • Increase Average Order Value (AOV) - encourage shoppers to add complementary products, leading to higher total purchases
  • Highlight the value and convenience of purchasing a set of items together, enticing them with an irresistible offer
  • Enhance value perception. Bundles create the perception of added value, making them more appealing to customers.

How Sobel Home uses Complete the Bundle

Sobel Home never misses an opportunity to offer more products to its shoppers after they add an item to cart. By offering to complete the bundle, Sobel Home helps shoppers to discover additional related items that complement each other while increasing its order size.

www.sobelathome.com

Create Complete the Bundle

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Frequently Bought Together

Present bundles of products that are frequently purchased together, simplifying the decision-making process for your customers

What is Frequently Bought Together?

It is a recommendation scenario that suggests additional products to the shopper, which are often purchased by other customers in conjunction with the item they are currently viewing or considering purchasing.

Why are brands using it?

  • Boosted sales and revenue - increases average order value by suggesting complementary products, leading to higher sales
  • Simplified customer experience - saves time and effort for customers by offering relevant product recommendations, enhancing satisfaction and loyalty
  • Cross-selling opportunities: "Frequently Bought Together" creates opportunities for cross-selling, allowing brands to introduce shoppers to a wider range of products

How By Benson uses Frequently Bought Together

By Benson never misses an opportunity to offer more options to its customers. While shoppers visit their product pages, they constantly offer to extend or upgrade the targeted product, resulting in better service and larger orders.

www.bybenson.com

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Build Your Own Bundle

Offer shoppers the ability to create their own bundle of products by selecting from a range of available options

What is Build Your Own Bundle?

Build Your Own Bundle scenario provides shoppers with the flexibility to select specific items or features that best meet their individual needs and preferences. The selection is based on a pre-curated set of products by the merchant.

Why are brands using it?

  • Increase AOV - encourage higher spending with customizable bundles, raising average order values and revenue
  • Personalize purchases - tailor products to customer preferences, potentially increasing Average Order Value (AOV) and overall revenue
  • Stand out competitively - offer a unique option, attracting customers looking for customized solutions

How By Benson uses Build Your Own Bundle

As a professional destination for home gardeners, By Benson understands that it might be tricky to select all the necessary tools to make your garden shine. That's why By Benson helps its shoppers choose bundles of tools with a single click, while boosting their Average Order Value (AOV).

www.bybenson.com

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Build Your Own Bundle

Offer shoppers the ability to create their own bundle of products by selecting from a range of available options

What is Build Your Own Bundle?

Build Your Own Bundle scenario provides shoppers with the flexibility to select specific items or features that best meet their individual needs and preferences. The selection is based on a pre-curated set of products by the merchant.

Why are brands using it?

  • Increase AOV - encourage higher spending with customizable bundles, raising average order values and revenue
  • Personalize purchases - tailor products to customer preferences, potentially increasing Average Order Value (AOV) and overall revenue
  • Stand out competitively - offer a unique option, attracting customers looking for customized solutions

How Good Store uses Build Your Own Bundle

Good Store encourages its shoppers to build their own custom bundles of soaps. They provide a variety of soaps to choose from and leave the selection itself to the shopper. This is fun, rewarding, and makes both sides happy.

www.good.store

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Bundle as Product

Combine multiple individual products into a bundle and sell them as a single unit

What is Bundle as Product?

Bundle as Product scenario involves bundling multiple individual products together and selling them as a single unit. This strategy offers shoppers a curated selection of items that work together or complement each other.

Why are brands using it?

  • Increase sales and revenue. Bundling leads to higher sales volumes and greater revenue due to the perceived cost-effectiveness.
  • Highlight the value and convenience of purchasing a set of items together, enticing them with an irresistible offer
  • Enhance value perception. Bundles create the perception of added value, making them more appealing to customers.

How Westman Atelier uses Bundle as Product

Westman Atelier understands that the attention span of the average shopper is quite short. Furthermore, with numerous options available, it's often easier to opt for a suggested bundle that's already curated for you.

www.westman-atelier.com

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Frequently Bought Together

Present bundles of products that are frequently purchased together, simplifying the decision-making process for your customers

What is Frequently Bought Together?

It is a recommendation scenario that suggests additional products to the shopper, which are often purchased by other customers in conjunction with the item they are currently viewing or considering purchasing.

Why are brands using it?

  • Boosted sales and revenue - increases average order value by suggesting complementary products, leading to higher sales
  • Simplified customer experience - saves time and effort for customers by offering relevant product recommendations, enhancing satisfaction and loyalty
  • Cross-selling opportunities: "Frequently Bought Together" creates opportunities for cross-selling, allowing brands to introduce shoppers to a wider range of products

How Aim’n uses Frequently Bought Together

Aim'n never misses a shopper when it comes to its product pages. It utilizes the 'Frequently Bought Together' feature to suggest additional sizes to product viewers, ensuring that no shopper is left without a solution while keeping its main sizes as the default option.

www.aimn.se

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Bundle as Product

Combine multiple individual products into a bundle and sell them as a single unit

What is Bundle as Product?

Bundle as Product scenario involves bundling multiple individual products together and selling them as a single unit. This strategy offers shoppers a curated selection of items that work together or complement each other.

Why are brands using it?

  • Increase sales and revenue. Bundling leads to higher sales volumes and greater revenue due to the perceived cost-effectiveness.
  • Highlight the value and convenience of purchasing a set of items together, enticing them with an irresistible offer
  • Enhance value perception. Bundles create the perception of added value, making them more appealing to customers.

How BLANQI uses Bundle as Product

BLANQI make it easy for their shoppers to find complete maternity sets. While shoppers receive a fast, single-click shopping experience, BLANQI enjoys higher order amounts without investing any additional resources.

www.blanqi.com

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Build Your Own Bundle

Offer shoppers the ability to create their own bundle of products by selecting from a range of available options

What is Build Your Own Bundle?

Build Your Own Bundle scenario provides shoppers with the flexibility to select specific items or features that best meet their individual needs and preferences. The selection is based on a pre-curated set of products by the merchant.

Why are brands using it?

  • Increase AOV - encourage higher spending with customizable bundles, raising average order values and revenue
  • Personalize purchases - tailor products to customer preferences, potentially increasing Average Order Value (AOV) and overall revenue
  • Stand out competitively - offer a unique option, attracting customers looking for customized solutions

How Carly Jean uses Build Your Own Bundle

Carly Jean offers its shoppers the opportunity to build their own custom looks by selecting the individual items that comprise their desired outfit. 'Build Your Own Bundle' enables Carly Jean to easily provide a personalized experience that shoppers love and want to return to again and again.

www.carlyjeanlosangeles.com

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Spend X Get Y

Encourage shoppers to spend a certain amount of money (X) in order to receive a specific benefit or reward (Y)

What is Spend X Get Y?

"Spend X, Get Y" promotions are designed to motivate shoppers to spend more money with the promise of receiving something valuable in return. It's a win-win situation where customers get a benefit, and the store increases its sales.

Why are brands using it?

  • Promotes larger purchases - motivates shoppers to spend more to qualify for the promotion, potentially leading to bigger transactions
  • Increases Average Order Value (AOV) - encourages higher spending, leading to a higher average transaction value
  • Enhances customer loyalty - provides added value, improving customer satisfaction and fostering loyalty

How Proclamation Jewelry uses Spend X Get Y

Proclamation Jewelry encourages its shoppers to spend at least $500 on jewelry in-store to receive free shipping. This is a win-win for both the shoppers, who get free shipping (which can be expensive at times), and the brand, which maintains a higher average order value.

www.proclamationjewelry.com

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